Squarepoint Ops LLC Sells 20,447 Shares of SBA Communications Corporation $SBAC

Squarepoint Ops LLC trimmed its position in SBA Communications Corporation (NASDAQ:SBAC) by 87.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,905 shares of the technology company’s stock after selling 20,447 shares during the quarter. Squarepoint Ops LLC’s holdings in SBA Communications were worth $682,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. NorthCrest Asset Manangement LLC increased its position in shares of SBA Communications by 3.0% in the second quarter. NorthCrest Asset Manangement LLC now owns 1,535 shares of the technology company’s stock valued at $359,000 after acquiring an additional 44 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of SBA Communications by 0.8% in the second quarter. Janney Montgomery Scott LLC now owns 6,130 shares of the technology company’s stock worth $1,440,000 after purchasing an additional 46 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in SBA Communications by 5.6% during the 1st quarter. Advisors Asset Management Inc. now owns 880 shares of the technology company’s stock valued at $194,000 after purchasing an additional 47 shares during the period. Farther Finance Advisors LLC raised its position in SBA Communications by 20.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 300 shares of the technology company’s stock valued at $70,000 after purchasing an additional 50 shares during the last quarter. Finally, MAI Capital Management raised its position in SBA Communications by 7.9% during the 2nd quarter. MAI Capital Management now owns 680 shares of the technology company’s stock valued at $160,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $191.91 on Wednesday. SBA Communications Corporation has a 1 year low of $185.13 and a 1 year high of $245.16. The firm has a 50-day moving average of $193.92 and a 200 day moving average of $208.22. The stock has a market cap of $20.45 billion, a P/E ratio of 25.02, a price-to-earnings-growth ratio of 1.65 and a beta of 0.87.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, November 3rd. The technology company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.21 by $0.09. SBA Communications had a net margin of 29.69% and a negative return on equity of 16.60%. The business had revenue of $732.33 million for the quarter, compared to analysts’ expectations of $715.65 million. During the same quarter in the prior year, the company earned $3.32 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. Research analysts expect that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, November 13th were issued a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, November 13th. SBA Communications’s payout ratio is 57.89%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SBAC shares. Citigroup reduced their target price on SBA Communications from $265.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, October 16th. Williams Trading set a $237.00 price objective on shares of SBA Communications in a research report on Tuesday, November 4th. Morgan Stanley dropped their target price on shares of SBA Communications from $260.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, October 16th. The Goldman Sachs Group reduced their price target on shares of SBA Communications from $250.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 1st. Finally, BMO Capital Markets lowered their price objective on shares of SBA Communications from $215.00 to $210.00 and set a “market perform” rating for the company in a report on Tuesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $237.00.

SBA Communications Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.